Shearman & Sterling represented Aabar Investments PJSC (Aabar), Abu Dhabi, and International Petroleum Investment Company (IPIC), Abu Dhabi, in the acquisition of a 9.1% shareholding in Daimler AG.

The new shares have been issued following a capital increase. The capital increase was carried out by issuing 96,408,000 new registered no par value shares from Daimler's Authorized Capital in exchange for cash contributions. The issue price of the shares is EUR 20.27 per share, resulting in an equity contribution to Daimler AG of EUR 1,954,190,160.

Aabar is an investment company headquartered in Abu Dhabi and is listed on the Abu Dhabi Securities Exchange. It directly invests in various sectors including energy, infrastructure, real estate, automotive and financial services companies. Its largest stakeholder is IPIC, which in turn is wholly owned by the Government of the Emirate of Abu Dhabi.

Daimler AG and IPIC have also agreed on a strategic cooperation in the framework of which they intend to pursue joint initiatives in the areas of electric vehicles, development and production of innovative compound materials for use in automotive manufacturing as well as social projects.

Shearman & Sterling attorneys involved in the transaction include partners Georg F. Thoma, Dr. Hans Diekmann (both Düsseldorf–M&A), Marc O. Plepelits (Frankfurt–Capital Markets) and Dr. Johannes Frey (Munich–Tax), counsel Joachim Grittmann (Frankfurt–Public Law) as well as associates Giuseppe Sferrazza, Carlos Robles y Zepf (both Düsseldorf–M&A), Patrick Heid (Frankfurt–Capital Markets) and Annette Keller (Munich–Tax). Attorneys involved with respect to the financing of the transaction include partners Winfried Carli (Munich–Finance), Tim Pick (Abu Dhabi–Finance), Clifford Atkins, Patrick Clancy and Mei Lian (all London–Finance) as well as associates Malcolm McKinnon (Abu Dhabi–Finance), Simon Jerrum and Jo Folan (both London–Finance).

For additional information contact:
Hans Jürgen Meyer-Lindemann | Düsseldorf | T +49.211.17888.719 |